ISLAMABAD: The Pakistani rupee is likely to trade at 293.52 by the end of this quarter, Trading Economics global macro models and analysts predicted on Friday.
The agency estimates the local currency to trade at 317.29 in twelve months.
Trading Economics provides its users with information for 196 nations including historical data and forecasts for financial indicators, stock market indexes, exchange rates, government bond yields and commodity rates.
It estimated that the value of the US Dollar against Pakistani rupee slashed by 0.2000 or 0.07% to 276.7500 on Thursday from 276.9500 in the last trading session.
On Wednesday, Bank of America Securities predicted that Pakistani currency could slash to Rs340 against the greenback due to substantial interest payments, high domestic borrowing, and the need to restructure unsustainable debt in next two years.
Rupee’s value
The Pakistani rupee is being trading at Rs277.41 against the US dollar in interbank.
BofA Securities expects inflation to remain high over the coming few years, with a projection of 26% in Fiscal Year 2024. They also anticipate that the State Bank of Pakistan’s key policy rate may rise to 25 per cent in the year, compared to the current rate of 22 per cent.
